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Last month, the Indian government enacted: (i) the Consumer Protection Act, 2019 (the “CP Act 2019”), which, when notified, will replace the Consumer Protection Act, 1986 (the “CP Act 1986”); and (ii) the Motor Vehicles (Amendment) Act, 2019 (the “MV Amendment Act”), which will amend the Motor Vehicles Act, 1988 (the “MV Act”).  The CP…

Today (September 20, 2019) the Indian government has introduced the Taxation Laws (Amendment) Ordinance, 2019, to make certain amendments in the Income-tax Act 1961 (the “IT Act”). We have summarized below some of the key changes. Option to pay a reduced corporate tax rate of 22% In order to promote growth and investment, a new…

Introduction Addressing India’s need to attract investments to revitalize its economy, on August 28, 2019, the Union Cabinet (the “Cabinet”) has approved a number of changes to the foreign direct investment (“FDI”) regime.  The reforms cover the single brand retail trading (“SBRT”), digital media and coal mining sectors.  This update discusses the key changes approved…

On August 21, 2019, India’s securities market regulator, the Securities and Exchange Board of India (the “SEBI”), introduced a plethora of changes to Indian securities laws and regulations.  This update discusses the key changes. Background In recent months, a multitude of factors including, inter alia, the ongoing trade tensions between the US and China, a…

In 2018, the Indian government constituted a committee to review the Competition Act, 2002 (the “Competition Act”), and its rules and regulations.  On July 26, 2019, the committee released its report with various recommendations dealing with the functioning of the Competition Commission of India (the “CCI”), the merger control regime and on anti-competitive conduct. Currently,…

On July 31, 2019, the Indian government notified the Companies (Amendment) Act, 2019 (the “Amendment Act”), which amends certain provisions of the Companies Act, 2013 (the “Companies Act”).  While a large part of the Amendment Act covers the changes introduced by the ordinance effective from November 2, 2018, the Amendment Act has also incorporated certain…

Introduction Earlier this year, the Reserve Bank of India (the “RBI”) had revised the framework on external commercial borrowings (“ECBs”), and put in place a new and simplified framework for Indian entities to borrow monies from foreign lenders.  On July 30, 2019, the RBI has further relaxed the restrictions on end-use of ECBs for corporates…

Introduction In India, the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 (the “Harassment Act”) and the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Rules, 2013 (the “Harassment Rules”) deal with sexual harassment against women at the workplace. The Harassment Act and the Harassment Rules require an employer…

Introduction India’s Union Budget (the “Budget”) was announced on July 5, 2019, and the Finance Bill, 2019 (the “Finance Bill”) was tabled in Parliament. The Finance Bill will be discussed in Parliament before its enactment, and therefore, it is likely that the Finance Bill may be amended as a result of these discussions. Once enacted,…

In a recent ruling, India’s Supreme Court (the “SC”) reiterated the basic tests to be applied in determining whether contract labourers can be classified as direct employees.  This update discusses the SC ruling and analyzes the precautions that employers should adopt while employing contract labour. Background Bharat Heavy Electronics Limited (“BHEL”) had entered into an…